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Stockholders Equity section of balance sheet Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear
Stockholders Equity section of balance sheet
Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year:
Common Stock, $10 par | $480,000 |
Paid-In Capital from Sale of Treasury Stock-Common | 36,200 |
Paid-In Capital in Excess of Par-Common Stock | 144,000 |
Paid-In Capital in Excess of Par-Preferred Stock | 100,800 |
Preferred 4% Stock, $50 par | 1,680,000 |
Retained Earnings | 2,978,000 |
Treasury Stock-Common | 62,700 |
Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 5,700 shares of common stock held as treasury stock.
Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 9.
Paid-In Capital: | |||
CashFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued) | $Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued) | ||
CashExcess of Issue Price Over ParFrom Sale of Treasury StockRetained EarningsTreasury Stock (5,700 Shares at Cost)Excess of Issue Price Over Par | Excess of Issue Price Over Par | ||
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stockPaid-in capital, preferred stock | $Paid-in capital, preferred stock | ||
CashCommon Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued) | $Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued) | ||
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)Excess of Issue Price Over Par | Excess of Issue Price Over Par | ||
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stockPaid-in capital, common stock | Paid-in capital, common stock | ||
CashCommon Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)From Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Treasury Stock (5,700 Shares at Cost)From Sale of Treasury Stock | From Sale of Treasury Stock | ||
Total Paid-In Capital | $fill in the blank 15 | ||
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsRetained Earnings | Retained Earnings | ||
Total | fill in the blank 18 | ||
can someone help me pls Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)Treasury Stock (5,700 Shares at Cost) | Treasury Stock (5,700 Shares at Cost) |
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